FOCUS

Focus Lighting and Fixtures Limited

LED lighting and fixtures for retail, home, railway and outdoor use

Consumer Discretionary›Consumer Durables›Consumer Durables›Consumer Electronics

focuslightingandfixtures.com

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Key metrics

Price as of 2026-10-19

Stock price

₹53.57

Market cap

361 Cr

Stock P/E

62.4

P/B

2.46

Dividend yield

0.0%

ROE (FY26)

3.5%

ROCE (FY26)

5.4%

Operating margin (FY26)

3.2%

Debt / equity (FY26)

0.13

OCF / EBITDA (FY26)

162.5%

OCF / EBITDA (3Y)

72.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Focus Lighting and Fixtures (Focus) makes LED lights and fixtures for retail, home, infrastructure and railway customers, including under the Plus Light Tech and Trix brands.

Company snapshot

7thBy market cap

Ranked among 11 companies in Consumer Electronics.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 100.0% of revenue

Segment	Revenue share	Revenue	PBT	Assets
Manufacturing	100.0%	142 Cr	20 Cr	—

What we see

Positives

✓Debt-to-equity of 0.13x — the company is largely funded by its own money, not borrowed funds.

Concerns

✗Net margin is very thin at 2.7% — little room for error if costs rise.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	56 Cr	57 Cr	60 Cr	55 Cr	45 Cr	42 Cr	42 Cr	41 Cr	49 Cr	38 Cr	60 Cr	49 Cr
Operating expenses (approx.)	45 Cr	46 Cr	46 Cr	43 Cr	37 Cr	39 Cr	38 Cr	37 Cr	44 Cr	36 Cr	54 Cr	43 Cr
EBITDA	11 Cr	11 Cr	13 Cr	12 Cr	8 Cr	3 Cr	4 Cr	4 Cr	4 Cr	1 Cr	6 Cr	6 Cr
OPM %	20.3%	18.6%	22.1%	21.2%	17.7%	6.2%	9.3%	10.3%	8.8%	3.2%	10.2%	12.7%
Other income	2 Cr	2 Cr	0.69 Cr	0.39 Cr	0.53 Cr	2 Cr	0.30 Cr	0.67 Cr	0.58 Cr	0.86 Cr	0.87 Cr	1 Cr
Interest	0.22 Cr	0.29 Cr	0.40 Cr	0.22 Cr	0.13 Cr	0.28 Cr	0.36 Cr	0.15 Cr	0.19 Cr	0.39 Cr	0.61 Cr	0.71 Cr
Depreciation	2 Cr	2 Cr	2 Cr	1 Cr	2 Cr	2 Cr	3 Cr	2 Cr	2 Cr	3 Cr	3 Cr	3 Cr
Profit before tax	11 Cr	10 Cr	12 Cr	11 Cr	7 Cr	2 Cr	1 Cr	3 Cr	2 Cr	-0.98 Cr	4 Cr	4 Cr
Tax %	15.2%	6.4%	11.3%	13.7%	25.9%	101.2%	-14.0%	18.1%	25.7%	-43.2%	28.1%	26.4%
Net profit	10 Cr	10 Cr	10 Cr	9 Cr	5 Cr	-0.02 Cr	1 Cr	2 Cr	2 Cr	-1 Cr	3 Cr	3 Cr
EPS (₹)	₹7.34	₹1.48	₹1.64	₹1.38	₹0.74	₹0.00	₹0.17	₹0.33	₹0.26	₹-0.22	₹0.40	₹0.42

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	60 Cr	105 Cr	169 Cr	224 Cr	183 Cr	188 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	58 Cr	96 Cr	135 Cr	177 Cr	157 Cr	172 Cr	Sign in free for the trailing twelve months
EBITDA	2 Cr	9 Cr	33 Cr	46 Cr	26 Cr	16 Cr	Sign in free for the trailing twelve months
OPM %	2.9%	8.5%	19.9%	20.8%	14.3%	8.5%	Sign in free for the trailing twelve months
Other income	0.88 Cr	1 Cr	1 Cr	6 Cr	3 Cr	3 Cr	Sign in free for the trailing twelve months
Interest	1 Cr	0.88 Cr	1 Cr	1 Cr	1.00 Cr	1 Cr	Sign in free for the trailing twelve months
Depreciation	4 Cr	3 Cr	5 Cr	7 Cr	8 Cr	10 Cr	Sign in free for the trailing twelve months
Profit before tax	-3 Cr	6 Cr	29 Cr	45 Cr	20 Cr	8 Cr	Sign in free for the trailing twelve months
Tax %	12.6%	20.5%	22.4%	13.4%	24.1%	33.1%	Sign in free for the trailing twelve months
Net profit	-2 Cr	5 Cr	23 Cr	39 Cr	15 Cr	5 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹-2.25	₹4.04	₹18.09	₹5.99	₹2.28	₹0.77	Sign in free for the trailing twelve months
Dividend payout %	—	0.0%	0.0%	5.1%	21.8%	0.0%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	10 Cr	10 Cr	13 Cr	13 Cr	13 Cr	13 Cr
Reserves	24 Cr	25 Cr	77 Cr	115 Cr	127 Cr	133 Cr
Borrowings	5 Cr	—	3 Cr	13 Cr	17 Cr	20 Cr
Other liabilities	26 Cr	—	35 Cr	49 Cr	44 Cr	48 Cr
Total liabilities	64 Cr	—	128 Cr	190 Cr	202 Cr	214 Cr
Fixed assets (net)	11 Cr	—	16 Cr	19 Cr	36 Cr	37 Cr
CWIP	0.51 Cr	—	2 Cr	19 Cr	22 Cr	32 Cr
Investments	0.62 Cr	—	0 Cr	6 Cr	3 Cr	4 Cr
Loans & advances	—	—	0.83 Cr	1 Cr	2 Cr	1 Cr
Inventories	16 Cr	—	39 Cr	44 Cr	48 Cr	53 Cr
Trade receivables	21 Cr	—	32 Cr	86 Cr	69 Cr	58 Cr
Cash & bank	0.37 Cr	—	7 Cr	3 Cr	6 Cr	10 Cr
Other assets	14 Cr	—	32 Cr	13 Cr	16 Cr	21 Cr
Total assets	64 Cr	—	128 Cr	190 Cr	202 Cr	214 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	3 Cr	4 Cr	-15 Cr	6 Cr	32 Cr	26 Cr
Cash from investing	-1 Cr	-3 Cr	-10 Cr	-20 Cr	-25 Cr	-20 Cr
Cash from financing	-0.65 Cr	-1 Cr	31 Cr	9 Cr	-4 Cr	-2 Cr
Net cash flow	0.77 Cr	-0.51 Cr	7 Cr	-5 Cr	3 Cr	4 Cr
Free cash flow (OCF − Capex)	1 Cr	0.44 Cr	-24 Cr	6 Cr	5 Cr	6 Cr

Ratios

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	-2.3%	19.4%	32.6%	32.4%	13.3%	5.4%
ROE %	-4.9%	13.4%	24.7%	30.5%	10.8%	3.5%
Debtor days	148	—	68	140	138	112
Inventory days	365	—	210	283	290	254
Days payable	366	—	94	205	149	132
Cash conversion cycle	147	—	185	217	278	233
OCF / EBITDA %	n.m.	45.4%	-44.6%	13.3%	124.0%	162.5%
OCF / EBITDA % (3 years)	—	—	-18.3%	-5.3%	22.3%	72.8%
Debt / equity	0.14	—	0.03	0.10	0.12	0.13
Current ratio	1.76	—	2.86	3.06	2.89	2.47
Net debt / EBITDA	0.00	0.00	-0.13	0.22	0.44	0.63